Second Chance Bikes
EIN: 824670279 · Charleston, SC · NTEE: P52
| Metric | Value |
|---|---|
| Total Revenue | $121K |
| Total Expenses | $83K |
| Net Assets | $86K |
Is Second Chance Bikes Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Second Chance Bikes
Second Chance Bikes (EIN: 824670279) is a nonprofit organization based in Charleston, SC, classified under NTEE code P52. The organization reported total revenue of $121K and total assets of $67K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Second Chance Bikes's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Second Chance Bikes is a small nonprofit that has been operating for 8 years, with 3 years of IRS 990 filings on record (2020–2023). Revenue has grown at a compound annual rate of 30.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $117K |
| Total Expenses | $83K |
| Surplus / Deficit | +$34K |
| Total Assets | $86K |
| Net Assets | $86K |
| Operating Margin | 29.3% |
| Months of Reserves | 12.5 months |
Financial Health Grade: A
In 2023, Second Chance Bikes reported a surplus of $34K with revenue exceeding expenses, holds 12.5 months of operating reserves (strong position).
Financial Trends
Over 3 years of filings (2020–2023), Second Chance Bikes's revenue has grown at a compound annual growth rate (CAGR) of 30.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +47.8% | +64.1% | +74.6% |
| 2022 | +49.8% | +5.7% | +341.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2018 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Second Chance Bikes has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Second Chance Bikes with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $34K, with revenue exceeding expenses.
Frequently Asked Questions about Second Chance Bikes
Is Second Chance Bikes a legitimate charity?
Second Chance Bikes (EIN: 824670279) is a registered tax-exempt nonprofit based in South Carolina. It has 3 years of IRS 990 filings on record. Total revenue: $121K. No red flags identified. Financial health grade: A.
How does Second Chance Bikes spend its money?
Second Chance Bikes reported $121K in total revenue in IRS 990 filings. 3 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Second Chance Bikes tax-deductible?
Second Chance Bikes is registered as a tax-exempt nonprofit (EIN: 824670279). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Second Chance Bikes located?
Second Chance Bikes is headquartered in Charleston, South Carolina and files with the IRS under EIN 824670279. It is classified under NTEE code P52.
How many years of IRS 990 filings does Second Chance Bikes have?
Second Chance Bikes has 3 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $121K in total revenue.
Filing History
IRS 990 filing history for Second Chance Bikes showing financial trends over 3 years of public records:
Over 3 years of IRS 990 filings (2020–2023), Second Chance Bikes's revenue has grown by 121.4%, moving from $53K to $117K. Total assets increased by 670.2% over the same period, from $11K to $86K. Total functional expenses rose by 73.5%, from $48K to $83K. In its most recent filing year (2023), Second Chance Bikes reported a surplus of $34K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $117K | $83K | $86K | $0 | — | — |
| 2022 | $79K | $50K | $49K | $0 | — | View 990 |
| 2020 | $53K | $48K | $11K | $0 | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $117K, expenses of $83K, and assets of $86K (revenue +47.8% year-over-year).
- 2022: Revenue of $79K, expenses of $50K, and assets of $49K (revenue +49.8% year-over-year).
- 2020: Revenue of $53K, expenses of $48K, and assets of $11K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Second Chance Bikes:
Data Sources and Methodology
This transparency report for Second Chance Bikes is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.